Just finished the Principles of Economics course! Excellent book, audiobook, lectures and seminars!
https://saifedean.com/poecourse
https://academy.saifedean.com/courses/principles-of-economics-course/
Just finished the Principles of Economics course! Excellent book, audiobook, lectures and seminars!
https://saifedean.com/poecourse
https://academy.saifedean.com/courses/principles-of-economics-course/
Why do economists keep titling their books "Principles of Economics" when it has already been used a million times?
Not sure, however in this case I think it had to do with the 1871 book Grundsätze der Volkswirtschaftslehre (Principles of Economics) by Carl Menger.
One of the key and essential lessons from this course, is that value is ordinal and not cardinal. There isn't a unit of measure for value as there is a unit of measure for mass.
Another interesting take-away from this book is the Misian means to determine if an economy is capitalist, pre-capitalist or socialist.
Simply, if there is a stock market, it's capitalist. If there isn't a stock market and is all state owned, it socialist. If there isn't a stock market yet, it is pre-capitalist.
It helps to bring clarity to understanding current and past economies.